The Minister highlighted that post-GST, tax rates have come down to 12 per cent which was 20 per cent earlier. To boost the affordable and mid-segment housing, availability of credit is essential for growth, he added.

The rate cut is a huge relief for homebuyers. Home loan interest rates have risen by as much as 5 to 7 per cent in the last one year because the RBI hiked its repo rates by 50 basis points over the period.

DLF share price has been falling for the last three days and lost 6.79% during the period. The stock hit an intra day low of Rs 152, down 4.85% compared to the previous close of 159.85 level on the BSE.